Patchwork Essay Example | Topics and Well Written Essays - 2500 words

Patchwork - Essay Example This particular realization has made the government adopt changes in policy to help the youth. Although the younger generation are now being employed in return of wages, their living standard is still highly compromised. The real wages received by the youth has fallen particularly for the age group of 16-24years from 2003-2011. The toughest problem is that the younger generation in labour markets has low chances of higher prosperity and real income compared to their parents. It has been a common consensus that performance of the youth employment has been less than impressive in almost all developed nations; but, this book has pointed out that youth unemployment had been aggravating in British economy much before the crash of 2008. U.K. has also been regarded as one of the worst performers among the other G8 nations, in terms of youth unemployment. It has been estimated that 14% of the under 25 population have no jobs and authors have estimated that if conditions does not improve in t he near future, then the situation is going to worsen. The authors have indicated that among the total unemployment share in U.K., proportion of unemployment under the age of 25 is the highest and it accounts about 40% of the total unemployment. The entire generation is â€Å"jilted† because if unemployment percentage under the age of 35 is considered, then this figure rises to 60%. Though the government has been able to reduce the level of unemployment as a whole, yet the segment of the â€Å"jilted† generation is degrading. The authors have identified the problem of NEET (not educated, employed or trained) among the youth (9% faces the NEET problem). This implies that a formidable section of the youth does not have the required skill set required by the nation to hire them. The authors have realized that the problems begin at schools, which later manifest in the labour market. The excessively high University fees have created two classes. The percentage